NDLI: International entrepreneurship, venture capital networks, and reinvestment decisions

Content Provider	Springer Nature Link
Author	Khanin, Dmitry Ogilvie, Kristie Leibsohn, David
Copyright Year	2012
Abstract	Prior research has established that venture capitalists (VCs) may face significant obstacles in financing ventures from emerging or transition economies. Such hurdles are usually attributed to the weaknesses of host countries’ institutional systems, especially regulatory. These institutional pitfalls may thwart VCs’ ability to exit a portfolio company leading to lower returns than expected. Developing this approach, we argue that exit strategies may also be difficult to execute when VCs expand into advanced economies although for different reasons. Thus, we show that both necessity entrepreneurship prevalent in emerging economies and opportunity entrepreneurship prevalent in advanced economies are positively associated with the number of investment rounds received by portfolio companies. In contrast, we establish that VC firm capital and network density are negatively associated with the number of rounds provided to portfolio companies across distinct institutional environments. This suggests that VCs may improve their performance by choosing an appropriate strategy to navigate unfamiliar institutional environments to minimize their liability of foreignness. Finally, we find that the interaction of VC capital and network density is positively related to the number of VCs’ investment rounds. Apparently, resource-rich VC firms may not fully realize the informational benefits of their dense “knowledge networks” due to insufficient collaboration with partners. At the same time, such VCs may no longer enjoy access to free information flows from prospective allies. Hence, network density and superior resources combined may lead to a greater number of investment rounds.
Starting Page	1
Ending Page	24
Page Count	24
File Format	PDF
ISSN	15707385
Journal	Journal of International Entrepreneurship
Volume Number	10
Issue Number	1
e-ISSN	15737349
Language	English
Publisher	Springer US
Publisher Date	2012-01-31
Publisher Place	Boston
Access Restriction	One Nation One Subscription (ONOS)
Subject Keyword	Venture capital Knowledge networks Opportunity entrepreneurship Necessity entrepreneurship Exit strategy Network density Management/Business for Professionals International Economics Microeconomics Entrepreneurship
Content Type	Text
Resource Type	Article
Subject	Business, Management and Accounting

Sl.	Authority	Responsibilities	Communication Details
1	Ministry of Education (GoI), Department of Higher Education	Sanctioning Authority	https://www.education.gov.in/ict-initiatives
2	Indian Institute of Technology Kharagpur	Host Institute of the Project: The host institute of the project is responsible for providing infrastructure support and hosting the project	https://www.iitkgp.ac.in
3	National Digital Library of India Office, Indian Institute of Technology Kharagpur	The administrative and infrastructural headquarters of the project	Dr. B. Sutradhar bsutra@ndl.gov.in
4	Project PI / Joint PI	Principal Investigator and Joint Principal Investigators of the project	Dr. B. Sutradhar bsutra@ndl.gov.in Prof. Saswat Chakrabarti will be added soon
5	Website/Portal (Helpdesk)	Queries regarding NDLI and its services	support@ndl.gov.in
6	Contents and Copyright Issues	Queries related to content curation and copyright issues	content@ndl.gov.in
7	National Digital Library of India Club (NDLI Club)	Queries related to NDLI Club formation, support, user awareness program, seminar/symposium, collaboration, social media, promotion, and outreach	clubsupport@ndl.gov.in
8	Digital Preservation Centre (DPC)	Assistance with digitizing and archiving copyright-free printed books	dpc@ndl.gov.in
9	IDR Setup or Support	Queries related to establishment and support of Institutional Digital Repository (IDR) and IDR workshops	idr@ndl.gov.in

Necessity entrepreneurship and competitive strategy

Pre-seed government venture capital funds

International issues in entrepreneurship

The export intensity of venture capital backed companies

Industry relatedness in trade sales and venture capital investment returns

The future of public efforts to boost entrepreneurship and venture capital

The impact of human capital on the early success of necessity versus opportunity-based entrepreneurs

Institutional environment and entrepreneurship: An empirical study across countries

Social capital of venture capitalists and start-up funding

International entrepreneurship, venture capital networks, and reinvestment decisions

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Necessity entrepreneurship and competitive strategy

Pre-seed government venture capital funds

International issues in entrepreneurship

The export intensity of venture capital backed companies

Industry relatedness in trade sales and venture capital investment returns

The future of public efforts to boost entrepreneurship and venture capital

The impact of human capital on the early success of necessity versus opportunity-based entrepreneurs

Institutional environment and entrepreneurship: An empirical study across countries

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International entrepreneurship, venture capital networks, and reinvestment decisions